Lead Edge Capital Raises $1.95B for Growth-Equity Bets

The oversubscribed fund will target investments ranging from $50 million to $400 million in software, Internet and technology-enabled businesses.

Institutional investors are pushing back against private equity’s biggest brands, steering capital toward emerging managers, lower-middle-market funds and secondaries vehicles that promise faster realizations and fewer fee surprises.

AUM dedicated to GP-stakes has climbed past $60 billion, reflecting rising demand from managers seeking liquidity and investors chasing fee-based returns.